GCB Bank assures UT, Capital Bank customers’ unfettered access to funds

GCB Bank has assured Customers of UT and Capital Bank of unfettered access to their funds through their known channels and staff of the assumed banks, working with GCB staff to ensure seamless transactions.

GCB Bank Ltd., the largest indigenous bank in the country with an asset base of GHS 6.3 billion, has assumed the businesses of UT Bank Ltd. and Capital Bank in a purchase and assumption transaction by the Bank of Ghana, effective Monday, August 14, 2017.

GCB has in effect assumed the 53 branches of the two banks thereby, growing its network to 214 branches across the country.

In a statement, GCB Bank said Corporate and SME customers would continue to work with their Relationship Managers in collaboration with GCB to facilitate a smooth transition and business continuity.

“The existing channels of service will remain functional while they are rebranded to reflect the change in ownership,” the statement said.

During the transition period of up to six months, this arrangement will prevail while procedures and processes are consolidated and the branches assessed and streamlined.

Suppliers of the two institutions would need to register with the Bank’s Support Services Division for integration onto the GCB platform.

“GCB brings its experience, expertise and capacity for managing a sustainable and profitable institution to the assumed businesses,” the statement added.